Japanese company to invest $1B in Spartanburg County facility, create 500 jobs
Published: Tuesday, February 18, 2014 at 12:58 p.m.
Last Modified: Tuesday, February 18, 2014 at 12:58 p.m.
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A Tokyo-based manufacturer plans to locate its next global facility in Spartanburg County, an anticipated $1 billion investment during the next decade expected to create 500 jobs.
Facts from the S.C. Department of Commerce
- The $1 billion capital investment represents one of the highest initial investments in S.C. history.
The announcement, made by Gov. Nikki Haley in Spartanburg on Tuesday, represents one of the largest initial capital investments in the state's history.
Toray Industries Inc., a manufacturer of fibers and textiles, plastic resins, films and carbon fiber composite materials has selected 400 acres along Highway 290 in Moore, a location that has access to interstates 26 and 85.
“South Carolina offers Toray Industries an ideal location for our next North American manufacturing facility. Here we will have proximity to major customers, both in the U.S. and in Latin American markets. We appreciate the great working relationship we have established with the state and local officials, and we look forward to becoming part of the South Carolina business community,” Akihiro Nikkaku, president of Toray Industries, said in a written statement.
Spartanburg County Council Chairman Jeff Horton said the county is pleased to have Toray join the growing family of international companies in Spartanburg County.
“Toray's selection of our community for this significant investment continues to demonstrate Spartanburg's ability to compete on the global stage,” Horton said in a written statement.
Toray is the largest producer of carbon fiber in the world, according to a statement from the company.
According to a statement from the S.C. Department of Commerce, Toray views the U.S. as an important expansion market because of a revival in manufacturing that is “pushing demand for advanced materials, particularly those used in the aerospace and energy-related industries.”
The Commerce Department reports that South Carolina is home to more than 200 aerospace companies, employing about 20,000 people.